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By Ken Asher, on February 13th, 2012
The number of Colorado Springs homes that were on the market in June 2010 was almost 6000. The inventory of homes that are on the market now is half what it was in 2010. Home inventory is shrinking and foreclosures are down. If your thinking of selling now would be a great time to get your home on the market.
Call Ken Asher (719) 930-7817 for a Free No Obligation walk through of your home or just send an email.
By Ken Asher, on September 6th, 2011
If your looking to get into a home as of this writing I can get you into a home with no money down. To qualify You must be a first time home buyer or not have owned a home for the past 3 years. Right now there is FREE money available. This money won’t last for ever. It’s first come first serve.
What’s the catch? There is no catch this is FREE money to help stimulate the Colorado Springs housing market.
How does it work? You get 3% down Payment assistance and a current interest rate of less than 4% fixed for 30 years. If your using a FHA loan you are required to put down 3.5% of the purchase price. Now you will only be required to put down 5% of the purchase price. If your using VA than your looking at getting into a home with no money out of your pocket.
This money will not last forever first come first serve.
To take advantage of free money with a very low interest rate Call Ken Asher (719) 930-7817 or just send me a text.
By Ken Asher, on August 31st, 2011
The diffidence of buying a short sale or foreclosed home also called bank owned or HUD homes is the time you may have to wait to get the home. A short sale is a pre foreclosure. Banks are dealing with thousands of short sales across the nation. You can wait up to 6 months on a short sale just to find out your not going to get the home and the bank is going to let the home go into foreclosure. It can be mind boggling as to why banks do that. It has gotten better as banks are becoming more accustomed to dealing with short sales
On the other hand foreclosures or bank owned homes have already been through the foreclosure process and the banks have the homes back and want to get rid of them. A lot of times homes are sold as is. The nice thing about buying a foreclosure is these homes can be closed on relativity quick. An experienced real estate agent can guide you through the process of buying a short sale or foreclosed home.
Search Colorado Springs Foreclosed or Short Sale Homes For Sale
Colorado Springs Foreclosed Homes For Sale
If you would like to speak with an experienced agent that knows foreclosures and short sales just give Ken Asher a call 719 930-7817
By Ken Asher, on April 27th, 2011
What are HUD Homes? They are single family homes that have been acquired by US Department of Housing and Development (HUD) as a result of a foreclosure on a FHA-insured mortgage.
HUD Homes can range in various states of repair. Some homes require extensive repairs and others only need minor repairs. On some homes HUD will offer a repair escrow for buyers to bring home up to FHA standards.
You must use a licensed real estate agent to place a bid on a HUD home.
A lot of these homes are being sold below market value which can amount to a substantial saving.
For a FREE list of HUD homes for sale in Colorado Springs
Contact Ken Asher (719) 930-7817 EMAIL
By Ken Asher, on March 12th, 2011
You hear these real estate terms thrown around on a regular bases these days. You hear them on the radio, read them in the newspaper and online, you even hear people on TV talk about them. The real estate terms I’m referring to are Pre Foreclosure, Foreclosure, Short Sale, Bank Owned, REO but do you know what they all mean? As a real estate professional serving the Pikes Region of Colorado I will explain what these words mean in simple terms.1. Pre Foreclosure – A Pre Foreclosure is a Short Sale.
2. Short Sale – A Short Sale is a home about to go into Foreclosure but the bank is going to take less than what is owed on the home to get it sold quick to prevent the home from going into foreclosure. Banks are in business of lending money not the business of selling real estate.
Short Sale FAQs for Homeowners, Short Sale Homes For Sale
3. Foreclosure – A Foreclosure is the legal proceeding by which a lender terminates a mortgagor’s interest in the home after the homeowner has failed to make the payments. The foreclosing mortgage lender takes possession of and/or sells the home.
For Homeowners facing Foreclosure Short Sale vs Foreclosure
4. Bank Owned – A Bank Owned home is a home that has been through the Foreclosure process and now the bank has the property back. Banks are dealing with thousands of these homes across the nation. Most banks usually turn these homes over to asset managers and the asset managers will turn the homes over to Real Estate Agents to get the homes sold.
Bank Owned Homes For Sale
5. REO – REO stands for Real Estate Owned. Actually it’s OREO. Other Real Estate Owned but shortened to REO which means Real Estate Owned by mortgage lender. Again most lenders turn properties over to Asset Mangagers to get the homes sold through the use of Realtors.
Feel free to contact Ken Asher (719) 930-7817 to answer any question you may have
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By Ken Asher, on January 2nd, 2011
 The new year is here. Don’t let old man winter keep you from selling your house. If you decide you want to wait until spring to sell your house then you will be competing with all the houses that flood the market. Right now interest rates are at all time historical lows. First Time Home Buyers, Move Up Buyers, Down Sizing Buyers and Military Relocation Buyers are taking advantage of the low interest rates to get into a home. Don’t be left out in the cold!
If you need to sell your house but you think your house may be worth less than what you paid for it then you may want to consider a short sale. Visit our short sale FAQ page to answer any questions you may have about short sales.
From old to sold. If your home has expired we love selling homes that should have sold but did not for what ever reason.
For a free no obligation walk through of your house Contact or
Call Ken Asher (719) 930-7817
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By Ken Asher, on October 19th, 2010
The inventory of houses for sale in Colorado Springs is shrinking. Home buyers are taking advantage of the low interest rates. If your thinking of selling your house now is a great time to get your house on the market.
Call today for a FREE no obligation walk through of your home.
(719) 930-7817
List My Home Request
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By Ken Asher, on September 22nd, 2010
Enough with the doom and gloom about homeownership.
Brett Arends explains why owning a home is a good thing.
The Wall Street Journal, By Brett Arends
September 16, 2010
Enough with the doom and gloom about homeownership.
Sure, maybe there’s more pain to come in the housing market. But when Time magazine starts
running covers that declare “Owning a home may no longer make economic sense,” it’s time to
say: Enough is enough. This is what “capitulation” looks like. Everyone has given up.
After all, at the peak of the bubble five years ago, Time had a different take. “Home Sweet
Home,” declared its cover then, as it celebrated the boom and asked: “Will your house make your
rich?”
But it’s not enough just to be contrarian. So here are 10 reasons why it’s good to buy a home.
1. You can get a good deal. Especially if you play hardball. This is a buyer’s market. Most of
the other buyers have now vanished, as the tax credits on purchases have just expired. We’re four
to five years into the biggest housing bust in modern history. And prices have come down a long
way– about 30% from their peak, according to Standard & Poor’s Case-Shiller Index, which
tracks home prices in 20 big cities. Yes, it’s mixed. New York is only down 20%. Arizona has
halved. Will prices fall further? Sure, they could. You’ll never catch the bottom. It doesn’t really
matter so much in the long haul.
Where is fair value? Fund manager Jeremy Grantham at GMO, who predicted the bust with
remarkable accuracy, said two years ago that home prices needed to fall another 17% to reach
fair value in relation to household incomes. Case-Shiller since then: Down 18%.
2. Mortgages are cheap. You can get a 30-year loan for around 4.3%. What’s not to like? These
are the lowest rates on record. As recently as two years ago they were about 6.3%. That drop
slashes your monthly repayment by a fifth. If inflation picks up, you won’t see these mortgage
rates again in your lifetime. And if we get deflation, and rates fall further, you can refi.
3. You’ll save on taxes. You can deduct the mortgage interest from your income taxes. You can
deduct your real estate taxes. And you’ll get a tax break on capital gains–if any–when you sell.
Sure, you’ll need to do your math. You’ll only get the income tax break if you itemize your
deductions, and many people may be better off taking the standard deduction instead. The breaks
are more valuable the more you earn, and the bigger your mortgage. But many people will find
that these tax breaks mean owning costs them less, often a lot less, than renting.
4. It’ll be yours. You can have the kitchen and bathrooms you want. You can move the walls,
build an extension–zoning permitted–or paint everything bright orange. Few landlords are so
indulgent; for renters, these types of changes are often impossible. You’ll feel better about your
own place if you own it than if you rent. Many years ago, when I was working for a political
campaign in England, I toured a working-class northern town. Mrs. Thatcher had just begun
selling off public housing to the tenants. “You can tell the ones that have been bought,” said my
local guide. “They’ve painted the front door. It’s the first thing people do when they buy.” It was
a small sign that said something big.
5. You’ll get a better home. In many parts of the country it can be really hard to find a good
rental. All the best places are sold as condos. Money talks. Once again, this is a case by case
issue: In Miami right now there are so many vacant luxury condos that owners will rent them out
for a fraction of the cost of owning. But few places are so favored. Generally speaking, if you
want the best home in the best neighborhood, you’re better off buying.
6. It offers some inflation protection. No, it’s not perfect. But studies by Professor Karl “Chip”
Case (of Case-Shiller), and others, suggest that over the long-term housing has tended to beat
inflation by a couple of percentage points a year. That’s valuable inflation insurance, especially if
you’re young and raising a family and thinking about the next 30 or 40 years. In the recent past,
inflation-protected government bonds, or TIPS, offered an easier form of inflation insurance. But
yields there have plummeted of late. That also makes homeownership look a little better by
contrast.
7. It’s risk capital. No, your home isn’t the stock market and you shouldn’t view it as the way to
get rich. But if the economy does surprise us all and start booming, sooner or later real estate
prices will head up again, too. One lesson from the last few years is that stocks are incredibly
hard for most normal people to own in large quantities–for practical as well as psychological
reasons. Equity in a home is another way of linking part of your portfolio to the long-term
growth of the economy–if it happens–and still managing to sleep at night.
8. It’s forced savings. If you can rent an apartment for $2,000 month instead of buying one for
$2,400 a month, renting may make sense. But will you save that $400 for your future? A lot of
people won’t. Most, I dare say. Once again, you have to do your math, but the part of your
mortgage payment that goes to principal repayment isn’t a cost. You’re just paying yourself by
building equity. As a forced monthly saving, it’s a good discipline.
9. There is a lot to choose from. There is a glut of homes in most of the country. The National
Association of Realtors puts the current inventory at around 4 million homes. That’s below last
year’s peak, but well above typical levels, and enough for about a year’s worth of sales. More
keeping coming onto the market, too, as the banks slowly unload their inventory of unsold
properties. That means great choice, as well as great prices.
10. Sooner or later, the market will clear. Demand and supply will meet. The population is
forecast to grow by more than 100 million people over the next 40 years. That means maybe 40
million new households looking for homes. Meanwhile, this housing glut will work itself out.
Many of the homes will be bought. But many more will simply be destroyed–either deliberately,
or by inaction. This is already happening. Even two years ago, when I toured the housing
slumpin western Florida, I saw bankrupt condo developments that were fast becoming derelict.
And, finally, a lot of the “glut” simply won’t matter: It’s concentrated in a few areas, like Florida
and Nevada. Unless you live there, the glut won’t have any long-term impact on housing supply
in your town.
Take advantage of low interest rates
Contact Ken Asher (719) 930-7817 to help you find a home you can afford
Keller Williams Partners Realty
1307 Aeroplaza Dr.
Colorado Springs, CO. 80916
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